Kirby Corporation $KEX Stock Holdings Lowered by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP has reduced its holdings in Kirby Corporation by 28.6%, now owning 8,840 shares worth approximately $893,000 after selling 3,542 shares.
• Multiple hedge funds, including Brooklyn Investment Group and Brown Advisory Inc., increased their positions in Kirby, reflecting a trend where 96.15% of the stock is now owned by institutional investors.
• Kirby Corporation reported $1.67 EPS for the last quarter, exceeding estimates, and garnered a consensus rating of "Moderate Buy" with a price target of $121.00.

Voleon Capital Management LP reduced its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,840 shares of the shipping company's stock after selling 3,542 shares during the period. Voleon Capital Management LP's holdings in Kirby were worth $893,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Kirby by 0.4% during the first quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company's stock worth $13,342,000 after purchasing an additional 470 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Kirby by 28.7% during the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after purchasing an additional 149 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Kirby by 5.3% during the first quarter. Envestnet Asset Management Inc. now owns 77,641 shares of the shipping company's stock worth $7,842,000 after purchasing an additional 3,924 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Kirby by 53.4% during the first quarter. GAMMA Investing LLC now owns 672 shares of the shipping company's stock worth $68,000 after purchasing an additional 234 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Kirby by 30.9% during the first quarter. Janney Montgomery Scott LLC now owns 11,075 shares of the shipping company's stock worth $1,119,000 after purchasing an additional 2,616 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Bank of America cut their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.00.

Kirby Stock Performance

Shares of NYSE:KEX traded down $1.91 on Friday, reaching $86.09. 858,640 shares of the company's stock were exchanged, compared to its average volume of 910,583. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.88 and a beta of 1.09. Kirby Corporation has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The business's 50-day moving average is $103.29 and its two-hundred day moving average is $103.75. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. The company had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.